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29-03-2020, 12:06 PM
#16231
Originally Posted by iceman
There are suggestions that up to 50 infected people are arriving into the country daily and they are not forced into quarantine. This is shocking while the population is told to stay in lockdown. Or as is pointed out in this article https://www.nzherald.co.nz/nz/news/a...ectid=12320580 it is like the Government is "trying to empty the bathtub with a jug while the tap is still running "
HDPA is pretty notorious for getting the wrong end of the stick. I wouldn’t take too much notice of what she says. If inbound Kiwis are willing to go home and self isolate under the lockdown I don’t see the point in forcing them into a costly, isolated quarantine to achieve the same effect.
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29-03-2020, 12:19 PM
#16232
The point of quarantine is that they hopefully not infect other people in their bubble at home or at the supermarket when they shop. Earlier would have been better, but may not of been possible with the volume. God help us if even 10% of those that buggered off to Australia come back and start bludging in the country they have not been paying taxes to.
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29-03-2020, 12:57 PM
#16233
Originally Posted by mondograss
HDPA is pretty notorious for getting the wrong end of the stick. I wouldn’t take too much notice of what she says. If inbound Kiwis are willing to go home and self isolate under the lockdown I don’t see the point in forcing them into a costly, isolated quarantine to achieve the same effect.
It is a difficult issue but I sort of agree with Dr David Skegg who thinks we are "trying to empty the bathtub with a jug while the tap is still running". We've probably strayed a little too far from this thread but sort of lead on from Beagle's mention of AIR staff being diagnosed with COVID-19.!!
Last edited by iceman; 29-03-2020 at 01:00 PM.
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29-03-2020, 04:42 PM
#16234
@CamWallace_NZ
On average, in normal circumstances @FlyAirNZ has around 48,000 passengers per day across the network. Yesterday we carried around 670 pax. These dire numbers reflect favourably and show that kiwis are respecting the essential travel advice. @andykirton
”When investors are euphoric, they are incapable of recognising euphoria itself “
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29-03-2020, 04:47 PM
#16235
Just 1.4% of normal pax. Wow !
Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.”
Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine
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29-03-2020, 05:43 PM
#16236
Member
Originally Posted by Beagle
Just 1.4% of normal pax. Wow !
Might get some space for once!
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30-03-2020, 05:38 PM
#16237
Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.”
Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine
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30-03-2020, 07:52 PM
#16238
Beagle , you suspected Foran was capable of making some hard calls. This is one. Borderline legality according to the article. I somehow doubt it will do much good contesting it, but you never know. AIR will have some litigious staff no doubt and they might give it a go. I dont know if the law has any force majeure type of exclusion, probably not. Maybe hes just buying time but he's using their money. People dont like being told when to take leave especially under ominous circumstances coz it aint no holiday.
For clarity, nothing I say is advice....
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30-03-2020, 08:05 PM
#16239
Airlines cheap as
I hear beagle uses Zoom to do consultations with his clients
@samfr
Zoom is now valued at 50% more than all the US airlines put together.
”When investors are euphoric, they are incapable of recognising euphoria itself “
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30-03-2020, 08:23 PM
#16240
Originally Posted by peat
Beagle , you suspected Foran was capable of making some hard calls. This is one. Borderline legality according to the article. I somehow doubt it will do much good contesting it, but you never know. AIR will have some litigious staff no doubt and they might give it a go. I dont know if the law has any force majeure type of exclusion, probably not. Maybe hes just buying time but he's using their money. People dont like being told when to take leave especially under ominous circumstances coz it aint no holiday.
AIR staff have to realistic and realise they don't live in some alternative nirvana universe bubble where they're immune from market forces just because they're majority Govt owned. Just 1.4% normal pax loads and retaining 70% of staff....talk about being on a collision course with reality ! QAN are retaining just 30% of their staff on pay, Virgin only 10%, the rest are using up leave whether they like it or not or on unpaid leave. I think AIR's 70% retention looks commercially untenable if all Foran is expecting is 30% normal pax loads by Christmas.
Page 67 of the annual report is actually quite illuminating. http://nzx-prod-s7fsd7f98s.s3-websit...567/305893.pdf
There's actually a heck of LOT more Aircrew and engineering staff on >$300K than management. They need to right size the business sooner rather than later if they want to get though this with any equity left.
Foran's own pay cut of 15% and nobody else in the senior leadership team taking one at all looks well and truly out of line with what other industry participants are doing and could be indicative of a company taking a commercially unrealistic view of the seriousness of the situation.
https://www.nzherald.co.nz/business/...ectid=12320903 Page 67 of the annual report shows there are 65 fats cats earning $500K+. These are the people that have done incredibly well out of the airline over the years and need to now lead by example by all taking 50% pay cuts, not a pathetic 15% for just one of them, that's not leadership, that's just tokenism by one very wealthy man, as it currently stands.
QAN measures taken proactively nearly 3 weeks ago, detailed here under cost reduction measures on page 2 put AIR's cost reduction program to shame.
https://www.asx.com.au/asxpdf/202003...gd46nx86ch.pdf
Last edited by Beagle; 30-03-2020 at 09:01 PM.
Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.”
Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine
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